Manual Parking Brakes Will Soon Come To A Complete Stop

That means no more handbrake turns, not that we condone such behavior.

We've known for some time that the manual parking brake is being pushed aside in favor of electronic systems. And a recent study by CarGurus has put this into perspective.

While the slow disappearance of the manual gearbox has been followed with much interest, the manual parking brake has received far less attention. Now it appears that while we weren’t looking, a mere 37 percent of new cars sold in the UK are now fitted with one.

In truth, the benefits of going electronic are rather overwhelming, aside from the childish fun of performing handbrake turns in abandoned car parks, the electronic parking brake frees up valuable cabin space, doesn’t need adjusting, will engage every time you leave the car and cannot be accidentally engaged while on the move.

There is no parking brake cable to worry about either although the additional complexity of electronic systems may cause issues as the cars get older. There also isn’t consensus yet on how they should operate, some engage by pulling up on the lever while others don’t.

In the US, the situation is much the same, aside from a few diehards like the aging Nissan 370Z and some newer models like the BMW M2 Competition, Ford Mustang and Mazda Miata, we are staring down the barrel of a future without handbrake turns.

All may not be lost though, these are all enthusiasts cars and another thing they have in common is that they can also still be had with a manual transmission option. Perhaps the future of the manual parking brake is in the niche sports car market where it and the manual gearbox can live on for a while longer.

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Aston Martin CEO hopes to complete IPO by end of year

Aston Martin CEO Andy Palmer played down the risk of a hard Brexit.

LONDON -- Aston Martin CEO Andy Palmer says he intends to float the company on the London Stock Exchange by the end of the year, completing a turnaround after new models and a surge in volumes helped the brand return to profitability following chronic losses.

The automaker said it had filed a registration document with the U.K.'s Financial Conduct Authority, which is a requirement of companies considering an initial public offering. Pending a final decision, a prospectus will be published on or around Sept. 20.

Palmer told Reuters he hoped the flotation would complete by the end of the year, which would coincide with when Britain aims to have agreed a Brexit deal with the European Union.

If successful, Aston Martin would become the first British-based automaker to be listed in London for years, following the sale of such brands as Jaguar, Bentley and Rolls-Royce to foreign owners.

The IPO could see the company valued at up to 5 billion pounds ($6.38 billion), sources have said.

Aston Martin sells roughly 25 percent of its cars to the EU and operates its only plant in Britain with a second one due to begin operations in 2019.

Brexit effect

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Palmer said he did not think even a bad Brexit deal involving tariffs would have a big impact on the automaker. We can demonstrate that Brexit is not a major effect for us," he told Reuters.

"If there is a tariff into Europe, it's countered by a tariff into the UK for our competitors so you might lose a little bit of market share in the EU but you pick it up in the U.K.," he said.

The plan will involve a secondary sell-down by existing shareholders, mainly Kuwaiti and Italian private equity groups, with a free float of at least 25 percent.

The automaker intends to apply for a premium listing on the London Stock Exchange with employees and customers able to apply to purchase shares.

First-half profit

Aston Martin, which spent years losing money, last year turned its first profit since 2010 and on Wednesday posted half-year adjusted pre-tax profits of 42 million pounds as revenues rose 8 percent to 445 million pounds due to strong demand for its DB11 coupe and Volante models.

The central England-based company said it expected full-year volumes to rise to between 6,200 and 6,400 units and in the medium term it aims to build nearly 10,000 cars in the 2020 calendar year.

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